Vapor Deposition Market, by process (CVD and PVD), application (into microelectronics, cutting tool, medical devices & equipment, and decorative coatings), end-use industry (electrical & electronics, automotive, aerospace), and region- till 2023
Oerlikon Balzers Coating AG, Applied Materials Inc., IHI Ionbond AG, ASM International N.V, ULVAC Technologies, Inc., JUSUNG ENGINEERING Co., Ltd., Kurt J. Lesker, LAM RESEARCH CORPORATION, Plasma-Therm LLC., and Aurora Scientific Corp.
In August 2018, The U.S. based Structured Materials Industries Inc (SMI) optimized a design version of its NanoV CVD research reactor to explore thin films of silicon germanium tin (SiGeSn) materials.
In August 2018, VaporTech, U.S., designed VT-3000i coating system to deposit materials using plasma-enhanced chemical vapor deposition (PE-CVD) or physical vapor deposition (PVD).
Vapor Deposition Market to Grow at a Robust CAGR of 7.03% During Forecast Period 2020 to 2023
Market Research Future (MRFR) has revealed in its latest study that the global vapor deposition market is set to expand at 7.03% CAGR during the forecast period 2017 to 2023. The market is estimated to reach a valuation of USD 63,686.70 Mn by the end of 2023. The increasing application of vapor deposition across different industry verticals has boosted the growth of the global vapor deposition market.
The growth of the vapor deposition is highly attributable to the surge in demand for medical devices & equipment, stringent environmental regulations against the use of Hexavalent Chromium (Cr6) and increasing consumption of electronic devices. The widening base of applications of vapor deposition in the semiconductors, LED, optics, displays, photovoltaic cells, and decorative coatings are likely to propel revenue generation in the market.
By process, the vapor deposition market is segmented into Chemical Vapor Deposition (CVD) and Physical Vapor Deposition (PVD). The CVD segment is sub-segmented into low-pressure CVD, atmospheric pressure CVD, metalorganic, and Plasma Enhanced CVD (PECVD). The PVD segment is further sub-segmented into cathodic arc deposition, electronic beam PVD, and sputter deposition.
By application, the global vapor deposition market has been segmented into microelectronics, cutting tool, medical devices & equipment, and decorative coatings among others.
By end-use industry, the vapor deposition market is segmented into electrical & electronics, automotive, aerospace, metal industry, medical, and others.
By region, the global vapor deposition market has been segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is poised to exhibit the steepest rise in revenue creation, thriving at 7.39% CAGR. The market in Asia Pacific is estimated to reach a valuation of USD 63,686.7 Mn by 2023. The factors favoring growth and expansion of the market are favorable government policies, and, rapid industrialization.
Furthermore, China is the global leader of vapor deposition market, which complements the growth of Asia Pacific vapor deposition market
North America is anticipated to command the second largest share of the market and value at USD 14,552.4 Mn across the assessment period. Led by the U.S., the region is expected to retain its prominence over the next few years. Europe is projected to remain a significant growth pocket during the review period. Germany is likely to dominate the region due to massive demand from the automotive industry. The Middle East & Africa, and, Latin America regions are estimated to exhibit a relatively slower growth throughout the projection period.